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Shopping Centers Today -> April 2003
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CAPITAL LEASE LAUNCHES RETAIL FUNDING
Capital Lease Funding, a New York City-based net lease lender, has launched a comprehensive funding program to help net lease developers complete long-term deals with retailer clients.
The program offers these developers a credit line to cover such predevelopment costs as permitting and zoning, explains Capital Lease President William Pollert.
It will also connect developers with Capital Lease’s finance network, including construction lenders and net lease investors. As Pollert sees it, there are small but astute credit tenant developers that need to be plugged in to its menu of services and contacts.
“There are few developers who can do all of that, unless they are very large,” he said. “Few of them have the technical knowledge on structuring credit tenant lease transactions to optimize the value of their investments.”
Once a project is completed, Capital Lease can arrange permanent credit tenant lease financing. The developer and Capital Lease can also opt for an equity partnership in the property.
Capital Lease says it has not set aside a fixed sum to fund the program, or set any specific financing goals.
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